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M&A team advise Uniti Group on the acquisition of 1300 Holdings and underwritten $85 million equity raising

Corporate

Lander & Rogers has advised ASX-listed Uniti Group Limited (ASX:UWL) (Uniti) on its acquisition of 1300 Holdings Pty Ltd and its related bodies corporate (1300 Holdings) for $78 million. Simultaneously with the acquisition, Lander & Rogers advised on the fully underwritten placement and accelerated non-renounceable entitlement offer of $85 million to fund the acquisition.

1300 Holdings is the owner of smartnumbers or "phonewords" (1300, 1800 and 13 numbers that use letters e.g. 1300 UNITI) which it licences to customers.

This transaction is aligned with Uniti's "three pillars" strategic growth agenda of becoming a leading provider of niche telecommunications services, via both organic growth and inorganic mergers and acquisitions, focussed on wholesale and infrastructure, specialty services and consumer and business enablement - in this case, the transaction falls within Uniti's specialist services pillar.

Lander & Rogers provided Uniti legal advice on all aspects of the acquisition, including due diligence of the target entities, negotiation of all transaction documents and inclusion of warranty and indemnity insurance. Additionally acting as lead counsel for the capital raising, Lander & Rogers provided a full suite of ECM services, including liaising with the ASX regarding technical submissions under listing rules, coordinating the due diligence process, drafting the offer materials, negotiating the underwriting agreement and liaising with the lead manager/underwriter and other advisors.

Lander & Rogers Lead Partner Jackie Solakovski said, "We are delighted to have worked with Uniti on its acquisition of 1300 Holdings and its $85 million equity raising. The acquisition of 1300 Holdings is another great milestone for Uniti and follows our recent work with Uniti in its acquisition of OpenNetworks, LBNCo, Fone Dynamics and Call Dynamics and its earlier underwritten equity raising of $100 million. We are proud to continue our support and to partner with Uniti in achieving its growth strategy."

Ashurst were the legal advisors to the shareholders of 1300 Holdings.

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Contacts

Faiza Bukhary

Senior Associate

Jessica Ryde

Special Counsel

Karen Robertson

Senior Associate

Charlotte Mackenzie

Charlotte Mackenzie

Lawyer